Equitable Markets Club of Providence College
PREAMBLE
Whereas the group of PC Students presently members of the class of 2006 wish to start a finance club, we therefore establish the Equitable Markets Club (EMC) with belief that it will carry out its intentions to the best of its abilities. All activities will be conducted according to the morals and values of Providence College.
ARTICLE I. NAME
The name of this organization shall be the Equitable Markets Club, hereafter referred to as EMC.
ARTICLE II. MEMBERSHIP
A. Eligibility
There is an open membership for EMC for any student enrolled at Providence College. Members of the above named organization shall be accepted without discrimination on the basis of race, color, religion, national origin, disability, sex, sexual preference, age, or creed. In addition, members must maintain a minimum 2.00 GPA.
B. Dues
The dues for membership to EMC are currently set at zero ($0) dollars. Any raised funds will be deposited with the Treasurer of Student Congress (which is administered by the Office of Vice President for Student Services.
C. Active Status
Members are expected to attend each bi-monthly meeting. Throughout the course of the meeting, members will share their progress and explain the reasoning behind their stock picks.
ARTICLE III. OFFICERS AND DIRECTORS
A. Titles
The officers of the EMC executive board of shall include: president, vice president, treasurer, and secretary. The executive committee must present a calendar of annual goals at the beginning of the year to the general members.
B. Elections
The officers may be nominated and elected by ballot at the last regular meeting of the academic year. A majority vote of the members present shall be necessary to elect. When there is only one nominee for an office, there may be a vocal vote. All officers shall take office immediately at the close of the meeting in which they are elected. In the pilot year of operation, officers will be designated by the President.
C. Eligibility
Any member of EMC shall be eligible for election provided that he/she:
· Is a member of EMC for at least one semester prior to election.
· Has met with the executive board to understand the details of the desired position.
D. Vacancies of the Offices
If any office shall become vacant except for the presidency, the president(s) shall, at the earliest possible date thereafter, order a special election for the purposes of filling such office. The member thus elected shall immediately enter his/her duties and shall hold office until the next regular election. If the president were to leave the vice president would assume the role of acting president.
E. Duties of the officers
The president shall:
· Preside and lead all meetings.
· Appoint committees
· Assist the treasurer in the preparation of a budget
· Contact alumni in fields of finance to inquire about guest speakers
· Have ultimate veto power on all matters.
The vice president shall:
· Be an aide to the president.
· In case of the absence or disability of the president, assume the duties of the president.
· Oversee the coordination of all projects.
· See to it that all activities taken by the chapter are in accordance with the bylaws of the college
· See to it that all members are given the chance to speak and be heard at all meetings.
The treasurer shall:
· Present a budget and a tentative schedule of suggested fundraising activities for the finance of the club
· See to it that the money used on behalf of the chapter is used wisely and in a manner which suits the purposes of the chapter.
The secretary shall:
· Keep a written record of all meetings.
· Recite or summarize the record of minutes for approval by the membership.
· Keep a current list of active members.
F. Removal of Officers
A majority of two-thirds vote can remove officers from office.
G. Voting Powers of Officers
Officers retain voting rights.
H. Removal of Directors
Any director can be removed of his/her title if the president so chooses or if two members of the executive board vote on dismissal. A replacement will be appointed immediately.
I. Elections of directors
The president or outgoing directors will choose candidates to fill the positions, who will then be interviewed by the executive board.
ARTICLE IV. MEETINGS
A. Time and Place
At least ten (10) general membership meetings shall be held from September through April; place and hour to be determined by the officers. Each member will be given $100,000 in fictitious Yahoo! Dollars and can choose to invest it any way possible. At each meeting, the member who had the greatest return (in terms of percentage) shall be awarded a prize (monetary value of approximately $20). The contest will be started anew each month.
B. Types of Meetings
The various meetings of the organization, as defined by the bylaws, include:
· General membership (review portfolios)
· Annual election meetings
· Special meetings
ARTICLE V. FINANCES
Only the president and treasurer shall control the finances and have signatory power over the chapter’s account. All funds raised or collected must be deposited with treasurer of the Student Congress or in the agency account which is administered by the Vice President of Student Services. Funds will be spent as follows:
ARTICLE VI. COMMITTEES
A. Members can join as many committees as they wish, but must be active in at least one
B. The following committees shall run in the best interest of the chapter.
* Fundraising committee- seek projects to finance
* Public Relations committee- Promote and publicize
* Projects/activities
C. Committee chairs must have written report of committee progress by each general membership meeting. The following must be presented in the membership reports:
* Committee name and chairperson.
* List of people who helped complete each goal
* List of goals accomplished since last meeting
D. The executive committee can appoint new committees at any time.
ARTICLE VII. Faculty Advisor
The faculty advisor of EMC represents a figure head to the club. The advisor shall be informed on the progress of the club, in addition, to any pertinent decisions relating to the club.
ARTICLE VIII. AMMENDMENT
This constitution may be amended at any general membership meeting of the organization by a two-thirds vote of the active members present, provided that the amendment had been submitted in writing to the president and posted in a conspicuous location for at least one week prior to the meeting. All amendments, additions and/or deletions to the constitution of the above named organization shall be adopted only after a vote of two-thirds of the members present. Additional articles and amendments may be included only if they are in consonance with Providence College and EMC regulations and policies. All amendments must be approved by the Student Congress and the Vice President of Student Services.
Bylaws of the Equitable Markets Club
ARTICLE I. MEETINGS
A. Ample notification shall be given to all members regarding meetings held by the executive and other committees.
B. General membership meetings shall be held at the set location(s).
C. Annual election meeting: shall be held by the beginning of April and shall be executed by the president. Only active members shall vote. Candidates with the majority of the votes shall be declared victorious.
D. Any member of the executive board can call special meetings.
E. Executive board meetings:
* Shall meet at least once a month.
* The executive board shall consist of all officers.
ARTICLE II. ELECTIONS
Nominations shall be taken at least one week before election day. If nominee chooses to accept nomination, he/she will give a 2-5 minute speech on day of election. Persons may not nominate or second themselves. Executive board members are not allowed to vote in elections and the president breaks ties. The newly elected members of the executive board must meet with the previous members for transition of chapter functions. (For more information see Article IV of the constitution.)
ARTICLE III. PURPOSES
The purposes of this organization shall be:
· Educate each member on the fundamentals of investing
· Develop a master EMC portfolio to gauge progress of club
· Focus on stock market, but also include futures, derivatives (options), shorting, and dividends
ARTICLE IV. AMENDMENTS OF BYLAWS
Amendments to these bylaws may be adopted at any general membership meeting of the organization by a majority vote, provided that the amendment proposed has been submitted in writing to the president and is posted at least two weeks prior to the meeting. President holds ultimate veto power on all matters.